When you have a 17-year-old daughter who must pay for her own gasoline, each time the pump price comes down is a cause for celebration. I even received a call Wednesday afternoon asking if she should fill up (despite still having half a tank) when she saw the $1.98 a gallon price.
For someone burned by far too many of those hard-to-explain Thursday increases, I went out on a limb and said "No, you can wait." Oil prices are supposed to decrease even further and the down economy (reality and fears) that is contributing to the pump relief unfortunately isn’t going to change overnight.
The Heritage Foundation’s Ben Lieberman offers some deeper perspective, warning that Congress must not go back on its easing of drilling restrictions. It also should reduce the red tape and avoid costly oil and gas regulations. Short-term gain will be replaced by long-term pain if we don’t act wisely.